"Which elements of the government's $20.5 billion economic stimulus package should be retained, and which modified or removed? Are there other policie

The intent and purpose of pumping S$20.5 billion “Resilence Package” was to mitigate and slow down the steep downward spiral of Singapore economy. The pertinent risk then was the severity of the financial meltdown and the key responses were to saves jobs and to keep companies afloat. The one percent point cut in corporate tax went a certain distant to show Singapore’s commitment to reduce business cost. Direct tax cut should be maintained or reduced further to make our tax regime competitive and compelling. Direct taxes should be kept simple, low and predictable and that should become the hallmark of Singapore business environment. With signs of growth, tax for industrial and commercial properties should impact businesses less and therefore rebates should be reviewed for modification or removal.



The slew of measures like Jobs Credit did avert massive hemorrhaging job losses but the blunt tool also mean that such indiscriminate credits reimbursement should be modified as the economy heals with job growth outpacing job preservation. The $5.1 billion on training support and other measures to save jobs such as skill training and upgrading should be retained and be made a standard fixture in the re-shaping of Singapore labor contents and skills.



The Workfare Income Supplement (WIS) must be tweaked constantly as the wage gap widens to compensate the poorest 20% of our population since they are the hardest hit with inflationary pressure. WIS must be a tool used to help the bottom 20% survives the rising food and housing prices.



The $20.5 billion Resilence Package was not meant to change the shape of the economic curve but to avert sharper downturn but with an improving world economy, the uptick will mean that the government budget should be placed on bets for a better future – infrastructure, healthcare and education.